Orlando Magic sign rookies Aaron Gordon and Elfrid Payton

Josh Robbins | Orlando Magic BasketBlogOrlando Sentinel

In a necessary procedural move, the Orlando Magic today signed Aaron Gordon and Elfrid Payton to rookie-scale contracts.

The salaries of first-round draft picks are governed by the collective bargaining agreement between the NBA and the National Basketball Players Association. The agreement stipulates the maximum and minimum salaries each first-round pick may receive, based on that pick’s draft slot. A player can receive up to 120 percent of his draft slot’s salary or as little as 80 percent of his draft slot’s salary.

In almost all cases, draft picks receive the 120 percent figure.

Gordon was picked fourth overall. His salaries will be as follows:

• For the 2014-15 season, his salary is guaranteed at $3,992,040.• For 2015-16, his salary is guaranteed at $4,171,680.• For 2016-17, the Magic will have a team option of $4,351,320.• For 2017-18, the Magic will have a team option of $5,504,420.

The Magic can submit a qualifying offer to Gordon for the 2018-19 season for $7,260,330. If Gordon were to decline the offer, he would become a restricted free agent, which would give the Magic the right to match any offer sheet Gordon might sign with another team.

Payton was picked 10th overall, and that’s what his salary slot is, even though he was traded to the Magic on draft night.

His salaries will be as follows:

• For 2014-15, his salary is guaranteed at $2,397,840.• For 2015-16, his salary is guaranteed at $2,505,720.• For 2016-17, the Magic will have a team option of $2,613,600.• For 2017-18, the Magic will have a team option of $3,332,340.

The Magic can submit a qualifying offer to Payton for the 2018-19 season for $4,538,647. If Payton were to decline the offer, he would become a restricted free agent, which would give the Magic the right to match any offer sheet Payton might sign with another team.

Gordon and Payton will play for the Magic in the Orlando Pro Summer League, which will begin on Saturday.

Second-round pick Devyn Marble hasn’t signed a contract yet. But he, too, will participate in the summer league.